China-based social networking app producer Blued has secured an undisclosed amount of series C funding from investors including mobile games developer China Mobile Games and Entertainment Group, China Money Network reported today.
The round consisted of an initial series C and a series C+ tranche. Ventech and Vision Knight Capital co-led both chunks, while commercial real estate firm New World Development also participated.
Blued reportedly raised several hundred million Chinese yuan (RMB100m = $15m) at a valuation of $300m.
Founded in 2012, Blued operates an app that enables gay users to chat with each other, watch live videos and send virtual gifts. The company claims to have more than 27 million users across 190 countries.
In November 2014, DCM and an unnamed Chinese VC firm co-led a $30m series B round for Blued. The company secured $1.6m in series A capital in February 2014 from Crystal Stream.